Sss housing loan logo with a house and a house.

SSS Housing Loan

65% of Filipinos don’t own a home. Some rent, are living under their ancestral homes, or are living with relatives. Although house buying is not as easy as it seems, the process is not that difficult. 

It may be difficult to acquire a rural home in a single payment if the home prices range in millions. Fortunately, the government has a relatively easy option for you to purchase your dream home: apply for a SSS housing loan. 

Are you prepared for an SSS housing loan? 

SSS loan will help you buy your home, but make sure you’re financially stable before applying. LOAN is a debt. Are you mature enough for this and pay the loan off? You can find a perfect house to be your home forever if you are serious about it. The most important thing is that you can take the value of the assets. 

Take note that you can invest a maximum amount of 2 million pesos only for financing.

This is payable in 5, 10, and 15 years and it has different interest rates. It is estimated that the collateral will not surpass 90%, SSS will evaluate it based on the contract and the scope of work.

A housing loan will determine how much income you need to qualify for a loan.

There are four kinds of home loans SSS offer.

  1. Assumption of Mortgage
  2. Loan for repair or improvement
  3. Direct housing loan for Workers Organization Members
  4. Direct housing loan for Overseas Filipino Workers

Each housing loan type caters a particular need and comes with various application procedures. But if your goal is to purchase a home, check the last two options. This enables you to finance: 

  • New house construction from the lot you own
  • Acquire a lot and build your house in it
  • Purchase a townhouse, condominium, or house & lot

*If you are borrowing from an official agency (like SSS), you must pay the downpayment of the property and then SSS will handle the rest. Aside from the property’s interest, you also have to pay SSS back over time

Housing Loan Qualification

  • Direct housing loan for WOM (Workers Organization Members)

This is a low-cost housing program affiliated with DOLE (Department of Labor and Employment), SEC (Securities and Exchange Commission), and other accredited worker organizations.

  • Direct housing Loan for Overseas Filipino Workers.

These housing programs are supported by the government shelter program, which aims to provide low-cost housing and must be executed in conjunction with the POEA contract.

Eligibility Requirements

  • Must be an SSS member, voluntary, employee, or OFW.
  • Members must have made a 36-month contribution and 24 consecutive ongoing contributions before applying for the program.
  • If any SSS loan is issued to the loaner or spouse, that information must be provided.
  • The member should not be more than 60 years old.
  • If you are older than 60, your application is valid for a maximum of five years. 

There were no provisions for granting retirement periods to members.

Requirements For SSS Loan must be original and photocopy of:

  1. Application housing loan form
  2. ID picture  1 x 1 of the principal applicant and spouse
  3. COEC (Certificate of Employment with Compensation)
  4. 2 months payslip certified by the employer
  5. Certificate of Loan Eligibility
  6. Certificate of acceptance signed by the borrower.
  7. ITR (Income Tax Return)
  8. Copies of the owner’s title and the latest property tax declaration
  9. Engineer’s signed and sealed blueprint and tax mapping or house plan
  10. Both the application fee and the inspection fee are required.

Note: Eligibility and required documents may vary per housing loan application. SSS may require you to submit additional documents. Check with on their website for additional details. 

Housing loan process; 

  • Ensure that the application contains all the information required.
  • Ensure that documents are verified.
  • An investigation of the borrower’s background is required.
  • Fees associated with processing.
  • Loan approval

Upon submission, a loan can be approved within five working days in the NCR and within ten days in the provinces. The lender will send you a letter outlining the monthly cost and annual percentage rate of the loan as well as its terms.

  • Processing property documentation
  • Disbursements for loans
Loan AmountAnnual Interest
Over Php 450,000.00 up to Php 1,000,000.009%
Over Php 1,000,000.00 up to Php 1,500,000.0010%
Over Php 1,500,000.00 up to Php 2,000,000.0011%

**Interest varies by loan amount; the interest rate may change without notice. Please check with the nearest SSS branch. 

It is important to plan carefully when taking out a home loan to avoid exceeding your financial capacity. There are still many mistakes you can make during the process, however. If you take out your down payment, you should have enough left over to cover expenses, emergencies, and investments. Don’t spend all your savings in one go.